Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Investors See Signs of "Green Shoots" in November

If there were lingering fears that hurricane Sandy would untether the market, those fears are being swept away by a wave of positive sentiment today. Positive macroeconomic data appears to be lifting Mr. Market's mood. The Dow Jones Industrial Average (INDEX: ^DJI  ) and the broader S&P 500 (INDEX: ^GSPC  ) were both up 0.9% at 1:10 p.m. EDT.

The macro view
Speaking of good moods and positive data, the consumer confidence index rose to its highest level since February 2008 last month. Investors will be watching tomorrow's employment data release closely for confirmation of these "green shoots" -- all the more so because today's hiring data from ADP, which showed that the private sector added 158,000 jobs in October, was derived under a new methodology (and is, therefore, a poor basis for comparisons).

Two of the sectors that are performing best today --€“ within the Dow, at least -- are financials and technology, both of which are dependent on the business cycle. On the other hand, two Dow bellwethers are not participating in today's mini-rally.

The micro view
Pharmaceutical giant Pfizer (NYSE: PFE  ) reported third-quarter earnings per share of $0.53 (ex-items), matching expectations. However, revenue fell 16% year on year to $14 billion -- $600 million short of analysts' estimates.

Meanwhile, energy supermajor ExxonMobil (NYSE: XOM  ) earned $2.09 per share in the third quarter, well ahead of the $1.95 consensus estimate. Exxon's refining business, which more than doubled its earnings, was the standout.

If the economy picks up and oil rises to $100, would you know how to take advantage of that opportunity? Click here to receive our free report, "3 Stocks for $100 Oil."

Alex Dumortier, CFA has no positions in the stocks mentioned above; you can follow him @longrunreturns. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2089446, ~/Articles/ArticleHandler.aspx, 9/29/2016 8:19:44 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,143.45 -195.79 -1.07%
S&P 500 2,151.13 -20.24 -0.93%
NASD 5,269.15 -49.39 -0.93%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/29/2016 4:35 PM
^DJI $18143.45 Down -195.79 -1.07%
^GSPC $2151.13 Down -20.24 -0.93%
S&P 500 INDEX CAPS Rating: No stars
PFE $33.32 Down -0.67 -1.97%
Pfizer CAPS Rating: ****
XOM $86.46 Down -0.44 -0.51%
ExxonMobil CAPS Rating: ****